K33 analyst: Bitcoin futures premium climbs to 5-month high

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ODAILY
10-16
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Odaily Odaily K33 senior analyst Vetle Lunde posted on the X platform that the Chicago Mercantile Exchange (CME) Bitcoin futures open interest (OI) reached a record 172,430 bitcoins yesterday, setting a new all-time high. Current institutional preferences indicate that they are increasing long positions. With the surge in open interest, futures premiums have also climbed to a 5-month high, a growth driven mainly by active market participants rather than inflows into futures-based ETFs. Over the past three days, open interest has increased by 19,120 bitcoins, the largest three-day increase since June 2023, with market activity concentrated on contracts expiring in November.

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